tv After the Bell FOX Business August 11, 2015 4:00pm-5:01pm EDT
my television sister melissa gilbert packinger had bags for washington. we'll get her campaign started. we have ideas for slogans. david: nothing to look forward to in the markets. saw it from the beginning and china. dow jones industrial average is down over 200 points. looks like it will stay that way into the close. looks like we were making gains, at least come back from disaster. it was down 250 points at one point. right now looks like 200 point loss in the dow. [closing bell ringing] melissa: there you go. for more on the big loss, alan knuckman. dow and nasdaq ending down over a percent. today's losses nearly wiping out yesterday's gain. give me your take on this. does it continue tomorrow? >> well, that is the big thing. it is only tuesday but we had big movements each and every day. we're still net-net ahead for the week. if you look in those terms. nice bounce off the bottom,
looking at stock market. trading between 21.20 and 2040 here on the s&p. we'll see what the week brings. but a lot of these markets have gotten a lot cheaper. oil obviously at multiyear lows. interest rates at multi-month lows. but with the yuan, there is race to the bottom. that could be positive in the big picture. melissa: alan, let me ask you, is this about china or the breakdown in oil? as somebody who covered that for years, that is pretty significant when you look what happened to oil. here is the chart right here. getting down to critical levels. >> right. we've been waiting for it to test those lows from earlier in the year. that is where we're at. let's see how it reacts. see if there is further selling to the downside or is this shakeout to see what is down here. interesting, someone like chevron, did not make new lows. exxon did but ended up not closing that far off from daily basis.
look at xle, energy etf, not near new lows. we'll have to look to see. volatility not making new highs. that could be a sign that sellers are getting tired. melissa: down almost 20% year-to-date. alan, thank you so much. david. david: as we've been saying china's move to devalue its currency sparking today's selloff, reviving concerns that the second largest economy is beginning a tailspin. robert bloom is investment banker and economist. he has been living in china for 10 years now. he joins us on the phone. is china going into a tailspin, robert? >> yeah. i call this, it is not the great revival. it is the great reversal. we had 30 years of super growth in china. a lot of it is fake growth. when debt defaults comes out of somebody's income and comes out of gdp. china will be giving back, over the next while, who knows how long, a lot of growth it achieved.
they revert what larry summers said in recent paper, mean reversion. nobody is a super grower outlyer forever. eventually revert to the mean. that gives up a lot of outlyer behavior. david: robert, quickly, will it help or hurt china as they try to avoid the tailspin you describe? >> it is going to hurt them but by hurting them it help them eventually. david: how? >> due to reform this is proxy for. they haven't done reform. they're trying to stimulate the economy with monetary policy. if they do that it puts downward pressure on renminbi. they have to fritter away foreign currency reserves which they spent 400 billion in first half of this year. at that rate there will not be any foreign currency reserves left. david: robert blohm from china, thank you very much. appreciate it. melissa. melissa: now to the race for
2016. two new polls show donald trump remains on top despite a slew of negative headlines. reuters has "the donald" solidly maintaining his lead nationally among republican voters with 24%. while second place jeb bush behind 5%. carly fiorina, a standout from earlier debate gets a new boost. new poll of iowa caucus voters. reflect a dip in support for trump and walker. watching trump during the debate made them feel less comfortable, rather than more comfortable him as candidate for president. that is the break down. david: same man leading in the polls, donald trump clearing up for another major event tonight. ashley webster has more. tell us about it. >> donald trump making his first appearance in michigan as presidential candidate. as you point out he travels there as the frontrunner in very
crowded gop primary race. tonight he is headline speaker at a local gop fund-raising event in michigan and talking of raising political cash, earlier today, trump called into fox and friends and said unlike his opponents, his campaign is just not beholden to big money donors or special interest money. >> hillary's raised a lot of money. a lot of these people raised a lot of money. those people that put up the money, those are not people that are not expecting big, big things and some of those things are counter to what's good for the country, believe me, they are. and you know, i don't need money. i'm running my own deal. i don't want anything. i have no special interests behind me. >> i don't need the money he says. trump still refusing to rule out a third party run saying he plans to keep the door open. by the way tonight's event in michigan, almost sold out. everyone wants to see and here what "the donald" is saying.
david: standing room only. not surprised. >> sure. melissa: no doubt. 2016 hopeful rick perry is hoping more campaign donations will come in and fast. the former texas governor has run out of money. until then perry is welcome staffers they're welcome to work as volunteers but he can't pay them any longer. he tweeted this message out earlier. we are continuing the fight, and we will win. donate today. a pro-perry political action committee says they have plenty of cash and maybe able to come to the rescue. so stay tuned there. david: all right. major shake-up meanwhile at google. the internet giant is not longer one company. it has been divided into several parts with a new parent company called alphabet. jo ling kent has more. >> google's reorganizing to avoid becoming a status quo tech dinosaur like microsoft and ibm and investors are loving it. google's new umbrella company, alphabet is expected to operate like a holding company perhaps like warren buffett's berkshire
hathaway. alphabet will oversee google as one of many separate divisions, including nest, google ventures and others. google will include search, chrome, youtube and android. another big reason for the change? making lots of money. some wall street investors never loved google spending on experimental projects like driverless cars and extending length of human life. plus reorganization allows billionaire cofounder sergey brin and larry page to focus on new innovations behind projects lab google x or funding startups at google ventures. mark mahaney is bullish on revamp, maintaining outperform rating and $750 price target. in his note this morning we view this as positive step increasing towards transparency especially with regard to core search and advertising, boosting efficiency and putting a long leader in charge of the core business. in case you're wondering why
alphabet is the name of all names, larry page said, we like the name alphabet, it means a collection of letters that represent language, one of humanity's most important innovation and the core how we index with google search. investors loving this decision. the stock saw a healthy spike all day today. dave? david: one of the few. melissa: exactly. economics professors, business leaders, they all told you so. wendy's franchise owners saying they have to cut workers and hours because they can't raise price after cheeseburger enough to cover higher minimum wage. david, who knew. david: sometimes it is tough to be right. more trouble for frequent flyers. a new government study finally seeing light of day outlining a very dangerous situation in air traffic control that puts passengers at risk. melissa: outrage against the epa the roll it played into the dumping of three million gallons of toxic sludge. look at that. into a colorado river. we'll take you live to colorado
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breathe right. melissa: wendy's sounding alarm on minimum wage hike of the company's ceo explaining how mandated raises would impact jobs saying our franchisees will likely look opportunity to reduce overall staff, looking at opportunity to reduce hours and any other cost reduction opportunities not just price. here now is monica crowley from the "washington times." she is also a fox news contributor. james freeman, who wrote about president obama's 1% economy in today's "wall street journal." you know, you hate to be right, james, in something like this because, i believe, you know that everybody that goes out there campaigns for higher minimum wage, their is in the right place. they're trying to say we need to get people more money and can't support the money but they don't understand math of it. the franchisees we're not
talking about wendy's ceo, small business owners, own a wendy's. they're out there. they don't have more profit to give away. they're saying we can't raise price of burger where we are because our customers can't afford it. so we'll cut hours. >> as you point out, a lot of these franchisees -- melissa: they're not rich. >> they're not rich. they might own one location. they're hoping to own a couple more to work their way up. these are low margin businesses, you force them to pay more for labor than that labor can provide sal you. they look for other solutions. the way wendy's is going, way mcdonald's is going. digital ordering, touch-screens instead of employees. melissa: monica, do you agree with that. >> what richard is saying a lot of people that make the argument on the left, we want to help these people, some of that is true. i think there is a darker side of this, people on the left who are totally ideology all the time. what they really believe in, it
ised are call wealth redistribution, using full force of the government in order to do it this is about taking from business owners and giving it to lower wage workers. but as you say, the consequences of this, where we have seen in cities that already raised minimum wage, like in san francisco, other places, they're now starting to hemorrhage jobs. it is just the law of economics. when people go into fast-food, they don't stay at minimum wage for long. they either wash out and leave the job or they're fired or if they're really good and show initiative and they're hard workers it is promotion convoy i don't remember belt usually. before they know it, they're in management position. >> so, james, you had a brilliant article in the "wall street journal" today, an opinion piece that was phenomenal if people haven't checked it out yet and you were talking about how this is symptommic of everything going on in the obama economy. you make the point that, you know, under the president, once again, wall street is going for a record year of deal-making.
$4.58 trillion on track for a record year. money never sleeps because of loose money. meanwhile, what else is going on? >> it's a strange situation. we have politicians talking non-stop trying to reduce income inequality but what we're learning is politicians make that their goal generally get more of it. because they put in rules that prevent job creation. prevent people from getting that first job and learning skills. meanwhile the economy is just kind of chugging along so slowly that what we've had in this area, the federal reserve, other central banks printing lots of money to offset that. you have this bizarre situation. huge boom time on wall street and main street, wendy's places like that we're not seeing job growth. melissa: you walk through, hang on a second. walk through the very sad math how these politicians go out to say they do the opposite actually make it worse. and, monica, turn to you on the idea, the president recently went out and say, with a big smile on his face that he thinks
he would like to run for third term. too bad he can't because if he did he really thinks he would win. he has been a great president. unfortunately monmouth university poll out there that really disagrees with him. 68% say they would like someone else, like anyone else. >> that poll is a little late because we're well into his second term. would i have liked that poll in 2008 or 2012 but okay. look, james's piece is brilliant as you say. recommend it to everybody, should take a look at it but you're right. the left goes out, hammer income inequality. they put into place policies that end up having effect of creating more of it, protecting wealthy and the big and connected. you end up not just getting crony capitalism, you get crony socialism, essentially a large part what we've got here. i think republicans running for president need to talk about this in terms of economic growth. that the that the way, that natural free market way you
rectify income inequality, not drag the rich down by hammering the rich or giving to the poor, it is about growing the economy so people have greater opportunities. melissa: it is. i like your point shows the math of people on the right don't hate poor people or not want people to raise themselves up. they don't agree with the math that the president's policies, it doesn't work. it doesn't help poor people. the opposite helps poor people. that is what your article really explains. that's why i love it. thanks to both of you being there. david: so glad you got the article highlighted, great, great piece in the "wall street journal." more trouble at the faa. a brand new report finds the agency hiding a study it commissioned four years ago. the study many traffic controllers suffer from severe fatigue. found two in 10 controllers say they made significant errors and six in 10 say they have actually fallen asleep at work. the most alarming mistake of all? allowing planes to fly too close to each other.
the federal aviation administration only published the story after another agency reported its findings. sorry, folks, that is the truth. we report, you decide. meanwhile is the jets season over before it begins? the latest on a self-inflicted big blow to the team and its fans who may not be cheering like this for much longer. learning google's new alphabet may not be as easy as abc as the internet giant making a big mistake by rebranding? we'll look at it in a moment. ♪ at ally bank no branches equals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda. have you ever thought, "i could never do that"?
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after two miami fire rescue unit collided with each other, leaving one on its side on thursday afternoon. the accident occurred at northwest 12th avenue and 12th street, is that tuesday afternoon? david: today. melissa: according to the miami fire chief. fire rescue truck and ambulance coy lieded with each other. sky force hd was over scene as one person was transported to area hospital. officials confirmed at least a dozen people have been transported. it is unclear how exactly the two units collided. david: we'll give you more information as soon as we find it. melissa: wow. david: unprecedented, cutting-edge insider trading plan. not all insider trading is really insider trading but sec chairman mary jo white is big on this she described it as unbelievable scheme with traders rake in millions after hacking press releases. adam shapiro is following the story. adam. >> mary jo white was talking
about 32 individuals on civil side. the criminal issue, that is the press conference she was speaking. we heard from the u.s. attorneys in newark and eastern district of new york but let's get to the nuts and bolts what went on here. on the criminal side, nine people were charged. two of them ukrainian hackers according to authorities. six stock traders and one real estate developer. they're charged with a $30 million scheme which they were able to hack into computer systems of newswire services, that report things like earnings reports. those companies being market trend out of toronto, pr newswire, out of new york and business wire in san francisco. those companies, by the way, were not charged. they appear to be victims of this hacking. now prosecutors allege this all started back in 2010. and that they were charges these peoples with computer fraud, conspiracy, to commit money laundering.
listen to what mary jo white had to say. >> hacking becomes more sophisticated. hacking becomes more sophisticated. we have to be able to match tomtechnologically and investigatively, schemers in the markets as they're evolving. this case is very positive sign we're doing that but it is continuous effort. >> inside not public information was from press releases on. david: like panera bread, verisign, dendreon, caterpillar. in the caterpillar case for example, they made $600,000 because they got an advance heads up that profits would be up in 2011. this is really first of its kind case where you have this kind of alleged insider trading. again goes back to 2010. david? david: wow. this one sounds like real thing. adam, thank you very much. melissa. melissa: a few stories on our radar. a young couple in court in
mississippi facing charges they tried to join isis. the couple includes a teenage woman who reportedly is the daughter of a police officer. the two are being held without bail accused trying to use their honeymoon as a cover to join isis in syria. ordered to talk things out, a u.s. judge demanding the nfl and its players union hold settlement talks over tom brady's "deflategate" suspension. new england patriots quarterback is suspended four games. a district judge would prefer two parties settle ahead of tomorrow's court hearing. wow, still going on. new york jets fans were hit with the worst possible news. quarterback geno smith was sucker-punched by another teammate at practice today. that doesn't make food sense, guys. he suffered a broken jaw. he will be out six to 10 weeks? the player who punched him was released from the team following the fight. you think? david: jets can't get a break.
fans are still rooting for them. toxic sludge continuing to pour into a colorado river. of course the epa is supposed to clean up toxic spills, not create them. what is wrong with these people? are they totally divorced from reality? plus forget about the man on the moon. how about a woman on mars? we have the proof. next we'll tell you about nasa's latest discovery and ask you what you think it is. ♪ can a business have a mind?
melissa: the epa is supposed to clean up toxic spills. but now it admits causing an environmental disaster that spans across two states. colorado governor john hickenlooper taking a close look at the animas river after three million gallons of contaminated leaked from colorado's gold king mine. there are concerns about long-term threats to the water supply. wow. alicia acuna live in denver with latest this one. what is story, alicia. >> reporter: melissa, so far the epa says so far no reports of anyone getting sick from the spill but we should remind folks that resident in the affected areas have been told to stay away from the contaminated area. experts say this is long-term problem spreading across multiple states. we don't really know what the impact will be. these are containment pools at source of spills.
the water coming out of the gold king mine is going into areas somewhere it is treated before heading downstream, a full six day after the blowout. the epa administrator came before cameras to apologize. take a listen. >> i already said this is tragic issue. this is tragic incident. i am absolutely deeply sorry that this ever happened but i want to make sure that we, that we react postively and in a way that is credible and we move this forward. >> reporter: new mexico governor susana martinez is preparing her state for legal action. on fox news this morning she told bill hemmer the agency handled this from the get-go. >> initially we weren't even told that the toxic spill ended up in the river. it took them a little less than 24 hours before they even told us, number of one. number two, and we're not told what toxins are in the river. and actually, didn't even come from the epa.
>> reporter: colorado governor john hick when looper -- hickenlooper toured the region and his understanding that it has stopped. hickenlooper said the accident was was unacceptability but stopped short criticizing agency. >> the epa has apologized. there is desire from conversation i had that the apology wasn't sufficient for the public. >> reporter: melissa, epa administrator gina mccarthy toiled reporters they still don't know why it happened. it is under investigation. melissa: wow, all right. thank you so much for that report. david. david: unbelievable. according to many on the scene the epa has been down playing risk of it is own spill involving many thousands times normal levels of arsenic and other deadly chemicals but meanwhile dramatically overplaying in many people's eyes risk of carbon dioxide and other greenhouse gases that led
to shut downs of whole industries. has the epa lost touch with reality? dan henninger, "wall street journal." fox news's gregg jarrett. many would say that they have lost touch with reality. they're down playing this. we know toxic chemicals are in there and they overplay the stuff we exhale, carbon dioxide do people believe the epa as the discrepancy where the epa is reacting grudging apology the way they treated bp during the oil blowout, no excuses, zero tolerance or anything. they took those executives and hung them out to dry. david: greg if this spill was down by private sector company we know there would be at least two dozen lawyers from the epa would have them by a hook right now but who can the people in colorado sue? if epa is responsible can they sue the epa?
>> yes they can, under the federal tort claims act they can be sued for recklessness and negligence. there is plenty of evidence of both of those, not only in breaching debris dam but then trying to sort of cover it up by downplaying the danger. they have no credibility insofar -- david: what do you mean no credibility? they haven't had good record in the past on that? >> i went down to oklahoma and texas and spent a long, long time investigating epa and its thuggish conduct down there involving going after companies for their oil drilling and fracking and so forth. they were involved, as a matter of fact in the faking of a water well test. here is the epa now today saying, hey, you know, folks in colorado, new mexico we'll test your water. who would ever believe them? david: dan, would we be better off without the epa? >> oh i think we would be better off with reconstituted epa. this agency has become such a power, unaccountable power unto itself. there is no way to actually have
oversight over the epa. this is an opportunity i think, to try to get to the bottom. what exactly do they do? this site, why were they digging around underneath that mine? you know, like it's a superfund site. they caused the accident to happen. should they have left well enough alone? but instead they insist on going into these toxic waste sites and cleaning them up because -- david: they claim they can't have congressional oversight on a lot of what they do because it involves expert ideas, experts working on the situation. but as we can see here, the experts screwed up big time. >> but that is no excuse for going into a project in which you were not even competent to be involved in. and they were not. if it was declared a superfund site, that is something different. then you get experts in there. but the epa is nobodies pert. david: greg, dan, thank you very much, guys. good stuff. appreciate it. melissa? >> bringing all the crowds to the yard. record turnout for bernie
david: simple plan. donald trump turning the spotlight to policy, calling to simplify our country's tax code. >> we can start it off by simplifying our current system. put h&r block out of business, knock them out. put them out of business. david: dan henninger is back with us, along with rich lowery from "national review." he is a fox news contributor. marianne marsh, former senior advisor to john kerry. thank you lady and gentlemen. dan, are we to take trump seriously? there are times people called for end to second house deductions on interest rates and trump gotten very angry at this. this would be means of simplifying the tax code.
do you think he would be serious trying to do it? >> good question. the big question is whether he would do the work to be taken serious on matter like taxes. what he understood from last thursday's debate, whatever else you might make of it, he was standing on a stage with eight or nine people who knew their stuff about taxes, about foreign policy and if he is going to stay in for the long haul, keep in mind, there are seven months before primaries begin he will have to educate himself on subjects like taxes. this could be the beginning but, man, it is a heavy lift. david: talking about a flat tax, rich lowery, talking about getting rid of a lot of deductions we have. one of the biggest is mortgage interest rate deduction. can you imagine a man like trump involved and his father's whole life involved in real estate asking to get rid of that? >> that would be a turn about. we could do a fair tax, flat tax or keep current code and simplify it.
you basically said nothing on taxes. he has no specifics here. to say you will do good things, which is what he said to the tax code, is really meaningless. david: mary ann, meanwhile jeb has been hitting hillary pretty hard on foreign policy i want to read to you something he said about hillary on foreign policy like the president himself she opposed surge, joining and claiming credit for its success. stood by as that hard-won victory by allied and forces thrown away. big question about hillary as secretary of state, she will be asked the question what have you done on foreign policy that makes the world a better place? how do you answer that? >> well, like the president, she was on team that got bin laden. plenty of accomplishments with the president. david: what are they? >> well interesting thing here though, david -- david: mary ann, i'm asking a question. forgive me we don't have much time. what is her foreign policies successes. you mentioned bin laden. what else?
>> first and foremost she had to re-establish relationships with countries around the world have been soured and ruined and broken by bush administration that took up bulk of her time. david: russia is success? china is success? arab spring is success? >> i didn't say that. david: where is the success? >> re-establishing, re-establishing relationships here, david. and that took a lot of time. because of that, we are now able to enter into negotiations to get other countries on board to join us. david: when you're talking foreign policy, you will have to mention specific countries not getting away with establishing relations. you have to talk about specific -- >> mentioned iran deal. we would not have able -- david: iran deal is success. >> i think it is goings to be. david: meanwhile, mary ann, stick with you on this, involves another democrat, bernie is surging crowds are gathering like never before. the presidential contender drew more than 100,000 people during campaign rallies in past couple weeks. why is bernie so successful?
because hillary is carrying a lot of heavy baggage? >> i think common denominator between trump and bernie sanders a lot of anger on the left and right fueling both of their candidacies. the difference is, sanders is not dominating race or polls like trump is. one person who got a lost crowds and successful in the past recently was barack obama. you don't see a lot of parallels between the sanders and obama campaign at this point now. david: but, rich, the fact while hillary has been having to answer all of these charges beginning to eat away in the polls, at her trust, and some other real key issues that might makes her electable or not electable bernie has gone up. is there a direct relationship with that? >> i don't think is direct relationship to hillary's ethical problems. i think there is a direct relationship with hillary's lack of authenticity because bernie is genuine. he is creating genuine enthusiasm out there and connecting with people in a way hillary never really established that she can.
this is serious movement. he is nipping at her heels in new hampshire. conceivably could be threat in iowa too. david: dan, he is unrepentant socialist? not only on the far left of democratic party, a proud socialist. isn't there a limit to how many americans would vote for a socialist? >> the question is there a limit how much the progressive on democratic party would vote for a socialist. what does this say about the obama presidency? bernie sanders attracted 100,000 people over the last two weeks. barack obama has been their president for seven years. why is the left so angry right now? david: mary ann, let me ask you that question. you heard it before, in many other venues, what is the difference between bernie social it view and democratic party in general right now? >> i think it is pretty simple. it has everything to do with chicks right? the fact is in our society and democrats believe you should provide people an opportunity to
make good, to get a job, to raise your family, make a salary, make a profit on socialist side there is no profit. period, end of sentence. that is the big difference. there couldn't be bigger difference between democrats and social its. david: in other words no place for bernie in the democratic party? >> well, i'm not saying that. there clearly is given the crowds. david: he is a socialists? >> what you're seeing david a little more nuance than that. i think people are frustrated lack of economic equality, inequality, with minimum wage. inequality with inability to get ahead right now. while we're recovering and getting jobs back, it hasn't happened fast enough for lot of people who bailed out a lot of big banks on wall street and want to see when they catch up too. david: when you say the american public is frustrated i think you're absolutely right on that one. mary, thank you very much. dan, rich, good to see you as well. melissa. melissa: shares of alibaba hitting new lifetime low of 76.15, plunging over 5% during
intraday trading. steepest drop since end of january. all this ahead of tomorrow's earnings report. deirdre bolton joins us now. what is behind all of this? is it instability in china? i imagine that is a big factor? >> you've been talking about it on your show,elsa. surprise yuan valuation. this is calling into question how strong or maybe weak china's underlying economy is. we know alibaba almost not really a fair comparison but kind of like amazon.com here. so essentially if chinese people lose too much money markets not working they don't have money to spend this will show up in an e-commerce company such as alibaba. the general concern about economic strength and consumer strength from average chinese person. you note this too if you look at any chinese company, any chinese internet company listed in the u.s., all of them trading lower today and shanghai composite
tumbling for the fourth straight session. this is really a big macro play. most analysts saying not so much to do with alibaba but the fact that the biggest e-commerce chinese company we know. melissa: we'll see you at top of the hour with more on "risk & reward." you can't afford to miss it. david. david: the nfl is heading to hollywood but which team will see the lights? the fight for city of angels. melissa: little house on capitol hill. my television sister wants a seat for michigan. our branding expert gives her advice. we'll help her out coming up. the promise of the cloud is that every organization
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it has ever been returning a football team to the nation's second largest market. nfl owners met by the san diego chargers, oakland raiders and st. louis rams. a decision is expected before the next super bowl. whole foods under heavy fire as shareholders suing the company after finding out several stores were overcharging their food. accuses whole foods of securities fraud, stating the company knowingly overstated the weight of prepackaged products which ultimately drove down the company's share price. oreo has a brand new flavor, they came or delicious as they sound. brown by batter oreos. on store shelves nationwide. latest one off flavors, pumpkin spice, cotton candy and shores. forget the other players. they finally got the right flavor. melissa: i leave them all. google as we know it is no more.
major corporate restructuring google formed umbrella company named alpha bit. we have lance ulanoff, mashable. and bruce terkel is brand ceo is with us. terkel brands ceo. he is with us as well. lance, what is the point of this in your mind? what is the meggsage they're trying to send to us? >> well, new google, really about a new company that can operate in much more -- almost a burden to have conglomerate of companies all in one. they were facing same regulatory issues. they were facing same acquisition issues. facing same issues as some companies were dragging down the whole. companies operate on their own. have their own regulations and settings so it is going to theoretically make things move much faster. melissa: bruce, that makes it sound like it is not about
branding but structured neat to do something managementwise. from branding does it make zones though? >> of course. because you started with a structure and logistics guy. if you started with the branded guy you would have gotten branding. they are spelling out a to z exactly how they will run the business. do all different things from the search and google and youtube we recognize to contact helpses that look for glucose to self-driving cars. so what they're doing is breaking it down, so each one of us can fall in love with a particular service we're interested in. melissa: there are some problems with this jeffrey, let me ask you, alphabet.com is owned by somebody else. perhaps that wasn't a great call. should have bought it first or something. isn't that problem? >> like a lot of people the first thing i thought when i heard this, is this april fool's joke? melissa: right. >> url, is abc.xyz. when i googled i found definition for alphabet. i think part of the problem is,
that -- melissa: maybe they didn't think about it enough ahead of time before -- >> they kind of ruined a very good, just a normal innocent word. melissa: lance, go ahead. >> i think it is really about the concept. this happens all the time. there are places in the world where companies have the same name. bmw has alphabet and another subsidiary. i don't think that is what is going on. when i was talking about the biggest deal, new ceo for google, who had meteoric rise. went from android and worked his way up. in charge of the whole key ball of wax, the main google properties. to me that is kind of a spectacular thing. melissa: lance, you convinced me, bruce, alphabet, was there something better than alphabet? >> they didn't call me or hire me to do it. melissa: they should have. >> i'm shocked they didn't own the url es which with their power. melissa: get it done. they have money. get it done. anyway, thanks, guys.
bruce, stay with me. this is my pet project of the day, if not the year. laura engles for congress. i'm serious about this one. my television sister, melissa gilbert running for congress in michigan's 8th district. bruce, while i have you here, i got to help a sister out. would you give her a slowing -- slogan to get the campaign. what do you think? there we are together. i'm not really blonde. get rid of that picture quick. bruce, help with the slogan. >> people of goodwill vote for john boy walton, richie cunningham. they will vote for her. she is actress, what does she know about this? it worked for son any bono. worked for ronald reagan. why won't it work for melissa gilbert. melissa: that is the slogan. ronald reagan, son any bono, melissa gilbert. this is the problem i have with this, bruce. she is democrat. i don't know if she loves having
ronald reagan over her head. she was very excited this morning but i don't know. >> let me ask you a question. does she wan to make sure she is the preeminent "little house on the prairie," melissa? worried about you catching up? melissa: i don't think so. i think she is the first melissa i happy take a back seat. bruce terkel. we have to work on slogan. david: i don't know. being compared to ronald reagan son any bono sound pretty good. we'll see what she says. nasa sent back a crazy image from mars. we can't fet over this we want to know what you think this is. tweet us "after the bell." we'll show some of your responses. some are pretty good. ♪
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crater on the red planet and captured what people think looks like a woman. we want to know what you thought it would be? . >> we got a lot of bird once. get close to the television. tell us what you think. that does it for us. deirdre bolton is here to take you through the next hour of fox business with "risk & reward." deirdre? deirdre: thank you so much, melissa and david. markets down across the board after china's surprise yuan devaluation. dow wiping out all of yesterday's gains, chief market strategist scott martin is with me now. scott, great to have you with us. i have heard you say get out of china whatever investment you have that is linked to that country close out. is that your stance? >> it is, especially direct investments which, thanks to the proliferation of investment vehiclesyo